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Hubbis: Returning Brits to be taxed on worldwide income from April 2017.

Hubbis recently featured an article about the reform of the non-domicile rules in the UK.

Hubbis | 2017-03-15

Returning Brits to be taxed on worldwide income from April 2017

Following the UK Budget last week, the reform of the non-domicile rules, previously announced in 2015, are destined to go ahead from 6 April 2017.

According to Buzzacott, the chartered accountants, the new tax regime will impact individuals born in the UK with a UK domicile of origin, who have subsequently left the UK and acquired a foreign domicile of choice (such as in Hong Kong or Singapore) and who now wish to return to live in the UK.

These individuals will no longer be able to benefit from the remittance basis of taxation, and will instead be liable to UK tax on their worldwide income, and capital gains and inheritance tax on their worldwide estate, said the firm.

The big concern is for any offshore trusts or companies these individuals have set up whilst living abroad. Buzzacott said that all trust and company income and capital gains will be taxed on them each year whilst they are a UK resident as if they had realised them personally.

In addition, subject to a 12-month grace period, any trust for which the individual is a settlor and beneficiary will fall into the UK inheritance tax net for as long as the settlor remains UK resident.

Article first seen on Hubbis online

You might also be interested in… Expatriate tax. | 英美海外居民個人所得稅業務

We know how both systems work from the inside, out. Talk to us about how best to manage your income, reduce liability and pay the correct local tax. We’ve had the pleasure of supporting many internationally mobile workers through pivotal stages in their lives from our London office. Buzzacott’s Hong Kong team looks after US and UK nationals living across Southeast Asia.

  • UK tax advice
  • US tax returns for UK-residing American citizens
  • UK tax returns for non-UK residents with UK source income
  • UK tax advice about UK statutory residency rules
  • Pre-departure/arrival planning, including assignment structuring
  • Inheritance tax advice

Help with US tax services

  • Residence and domicile issues
  • US & UK Tax return compliance
  • Cross-border trust and estate tax 
  • Dual US/UK qualified charities 
  • FATCA/CRS advice 
  • International Pension & Tax Reporting & Advice 
  • Mixed Fund Analysis 
  • US/UK Divorce Tax Advice 
  • US/UK Share Schemes Tax Advice 
  • Expatriation
  • US residents in Hong Kong 

Global Mobility

We work hand-in-hand with our Global Mobility team who can advise you on managing an international workforce. And you’re welcome to share your queries with Buzzacott’s other specialists, from HR to financial planning. Thanks to our membership of the PrimeGlobal international association, we can also connect you with trusted experts worldwide who deliver the same quality of service you expect from us.


我們清楚了解英、美兩地的稅制。這當中包括如何妥善管理個人收入,減少稅務和繳交正確的稅額。我們倫敦辦事處擁有豐富的經驗,為海外工作者 在人生不同的階段,提供適合他們的支援。 Buzzacott的香港團隊 (link to HK SITE) 負責維顧生活在東南亞的美國和英國國民。
















我們與全球流動團隊 攜手合作,為您提供管理國際勞動力的諮詢。不論人力資源  或財務策劃  的問題,都歡迎您與Buzzacott的專家聯絡。而作為  國際協會的會員,我們還可以為您提供全球值得信賴的專家,提供與您期望一致的服務質素。